PRESIDENT BUSH: Good morning. As I return
from a successful trip to Asia, the United States Senate will return
from its recess for an important debate on America's energy security.

As our economy continues to grow, U.S. oil consumption is projected
to increase by about one-third during the next 20 years. Our
demand for electricity is expected to rise by 45
percent. America is already using more energy than our
domestic resources can provide, and unless we act to increase our
energy independence, our reliance on foreign sources of energy will
only increase.

I have a balanced, comprehensive and aggressive energy plan that
will help address this challenge. The plan has five main
parts: First, it promotes conservation. It
increases funding for energy efficiency and renewable energy programs,
and supports the development of fuel-efficient vehicles.

Second, my plan will modernize our energy delivery
systems. America can't meet tomorrow's energy needs with
yesterday's infrastructure. Just as the Internet has made
our information more convenient, new technology can make our energy
cleaner, cheaper, and more efficient by upgrading power lines and
connecting producers and consumers across the whole country.

Third, my new budget invests in new technologies, such as fuel
cells that may someday power our cars with hydrogen and emit only
water.

Fourth, my plan offers tax credits and other incentives for the use
of renewable energy sources, like wind power, solar power, and fuels
derived from crops. Renewable energy can increase our energy
independence and help our farm economy.

Conservation technology and renewables are
important. Yet they alone cannot solve our energy
problems. We must also reduce America's dependence on
foreign sources of oil by encouraging safe and clean exploration at
home.

On my way to visit Asia, I stopped in Alaska, a place of tremendous
natural beauty and important energy resources. I met with
many Alaskans, including native leaders who want to preserve the
grandeur of their state while carefully developing the energy beneath a
small fraction of it. New technology makes this
possible. Our national security makes it urgent.

Alaskans know firsthand that modern technology allows us to bring
oil to the surface cleanly and safely, while protecting our environment
and wildlife. We should listen to Alaskans who support
exploring ANWR in a safe and clean way.

Passing my comprehensive energy plan is not just important for
energy security, it is also vital to our economic
security. Economic growth requires reliable and affordable
energy, and labor organizations support my plan because they know my
energy plan means thousands of new jobs across America.

We all remember the blackouts and the sky-high energy bills of
recent summers. I urge Congress to protect consumers from
these wild swings in energy prices for the future. The House
has passed my agenda for energy independence. Now I urge the
Senate to act.